Cardano (ADA) supremo Charles Hoskinson claims that his project is poised to steal some of Ethereum (ETH)’s thunder – with claims that “more than 100 companies” are “in the pipeline,” and will shift to Cardano when the latter’s functionality “matures.”
However, speaking to Bloomberg, he did not elaborate any further.
Meanwhile, Nic Carter, the co-founder of Coin Metrics and Partner at venture capital firm Castle Island Ventures, appeared wary of the claims, telling the same media outlet,
“My goal is to run countries on this blockchain. I don’t care about Uniswap and CryptoKitties and other things. It’s a bubble, and it comes and it goes, like Pet Rocks and Beanie Babies. You can take your DeFi and you can run it on my system for 1/100 to 1/1000 of the cost.”
And the network’s ADA token has had a meteoric rise this year, currently sitting at number 6 in the top 10 tokens per market capitalization.
At the time of writing (09:37 UTC), ADA trades at USD 1 and is down by 8% in a day and 12% in a week, trimming its monthly gains to less than 9%. The price has skyrocketed by 3,755% in a year.
The Cardano chief added that he “doesn’t know why” Cardano’s value has been in the ascendency this year, and added that smart contract functionality was to roll out “this year.”
Ethereum developer Ryan Berckmans earlier this month told Our that the ADA hype could simply be the result of crypto community members thinking that Ethereum “doesn’t scale” and speculating that “Cardano may be the answer.”
Hoskinson’s cause has been buoyed by some high-profile supporters, however, with veteran rock star Gene Simmons of Kiss mounting a very public and very impassioned defense of the token last month.
– Ethereum Developers On Why They Don’t See Cardano & Binance Chain As Rivals
– Cardano’s Hoskinson Keeps Bashing Ethereum As ADA Outperforms ETH
– Cardano Meets Mary as ADA Still Occupies 3rd Spot by Market Cap
– Cardano Upgrades On Its Way To Offer Better Tokenization Than Ethereum